Sei Sees Explosive On-Chain Growth, But the Token Faces Selling Pressure
Sei had notable network growth within the previous six months. In this sense, daily transactions surpassed 1.6 million, and the number of active addresses increased from 250K to 600K. It appears that user engagement is rising and that steady advantages are being obtained because of this robust and steady increase.
This could be a result of successful dApp deployments on the network or heightened developer interest. However, as bulls attempted to solidify recent gains, SEI traded at $0.2733, down 1.89% on the day, despite strong on-chain momentum.
SEI Struggles at $0.30 Resistance Despite Strong Bounce From $0.25
SEI maintained its stalling near the $0.29–$0.30 resistance band despite a clear bounce from the $0.25 support level. Multiple bullish attempts have been rejected by this resistance, which has served as a crucial supply zone since February.
Despite breaking through the range recently, the price hasn’t yet closed above it with conviction. An established breakout would lead to $0.337, while a rejection might necessitate another test of $0.254. Therefore, in order to keep momentum, bulls need to continue pressure at the current levels.
All Eyes on Sei’s $0.29–$0.30 Range Amid Record On-Chain Activity
Sei’s enormous increase in transactions and active users demonstrates how quickly network basics are getting better. However, as traders hesitate, the price is still trapped below a crucial resistance zone. A strong rebound driven by a short squeeze and retail momentum may be triggered if Sei is able to turn this resistance into support while sentiment remains pessimistic. All eyes will be on the $0.29–$0.30 level for confirmation until then.
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